Nepal’s involvement in the Global Fintech Festival is driven by the nation’s need to learn from the global transformation, disruption, and innovation in fintech. The Global Fintech Festival, recognized as the world’s largest fintech event, has become a significant platform for countries like Nepal to gain insights and showcase their advancements.

Nepal’s Journey in Global Fintech: “I have been involved with the Global Fintech Festival since its inception. The first two editions were held virtually due to the lockdown, and from 2022 onwards, I have had the honor of participating as a speaker,” said Sanjib Subba. “This event is massive, featuring around 600-700 speakers each year. This year alone, approximately 80,000 to 100,000 people attended the festival over the past three days, making it a remarkable experience.”

Nepal’s Significant Presence: This year marked a significant milestone for Nepal, with a large delegation participating in the event. Notably, F1 Soft, a leading fintech company in Nepal, sent a team of 23 individuals to the festival. “This is a testament to their commitment and the value they bring to Nepal’s fintech sector and the broader economy,” Sanjib added.

Acknowledging the Efforts of media: Sanjib expressed gratitude towards Nepal’s banking news and banking samachar media for their active participation in the festival. “It’s encouraging to see Nepal’s media making a visible presence at the Global Fintech Festival for the second consecutive year. Your efforts to bring Nepali fintech to the global stage are commendable.”

Learning from India’s Progress: India’s advancements in digital public infrastructure, particularly through the Digital Public Infrastructure (DPI) initiative, were highlighted as a learning point for Nepal. “India has made significant progress in areas like KYC and identity verification with Aadhaar, payment systems like UPI, and the recent introduction of the Unified Lending Interface (ULI). These are areas where Nepal can learn and adapt similar strategies to enhance our own fintech landscape,” Sanjib remarked.

The Importance of Fintech Festivals: Fintech festivals like this provide an invaluable opportunity for learning and collaboration. “I encourage more companies from Nepal to participate in such events. Bring not just the main promoters or investors, but also the younger generation and execution teams. They will gain knowledge and contribute to the growth of our fintech industry,” Sanjib emphasized.

Nepal’s World-Class Fintech Products: In conclusion, Sanjib proudly stated that Nepali fintech companies are producing world-class products, capable of competing on a global scale. “Whether it’s F1 Soft, NCSL, Khalti, IME Pay, or Prabhu Pay, our products are agile, scalable, and innovative. They have the potential to reach and succeed in markets worldwide.”

Nepal’s growing participation in the Global Fintech Festival underscores the country’s commitment to embracing fintech innovations and contributing to the global fintech ecosystem.